End of Lease Strategies?

[xpan]

Confirmed that the 2013 buyout has been reduced from $7500 last month to $3000 in May, I called this morning. They change it month to month. We came very close to taking the buyout on our 2013 Leaf (lease ends in December) on Sunday but I started playing dealers off each other trying to get the best deal, and at the 11th hour the dealer backed out of their offer (additional $750 off) and we were too busy to try any more. Now the incentive has changed. Hopefully we won't regret it. We will keep checking each month and see if it becomes favorable again.

I called this morning, it is true that the 2013 buyout was reduced to 3k, and lease extension is only for 6 months without any free month. They said they sold out lot of leafs in April, so they scaled back on the promotion. I was suggested to call back every month to check the change

 

[LeftieBiker]

This increase in Leaf sales, if true, might mean that the Memorial Day weekend sale won't be as good as it was in 2013, leaving Labor Day weekend as the best time to buy or lease a 2016 SV or SL. That would work out better for me, at least...

 

[remarquian]

I called this morning, it is true that the 2013 buyout was reduced to 3k, and lease extension is only for 6 months without any free month. They said they sold out lot of leafs in April, so they scaled back on the promotion. I was suggested to call back every month to check the change

Sales of Leafs were down in April, they sold 787 of them in the US.

Down by about fifty percent over April of last year when they sold 1557.

In March they sold 1,246 versus 1,817 of March 2015

http://nissannews.com/en-US/nissan/usa/releases/nissan-group-reports-april-2016-u-s-sales

 

[jjj240]

i think OP was referring to the sale/lease buy out of 2013 Leaf, not 2016.

I called this morning, it is true that the 2013 buyout was reduced to 3k, and lease extension is only for 6 months without any free month. They said they sold out lot of leafs in April, so they scaled back on the promotion. I was suggested to call back every month to check the change

Sales of Leafs were down in April, they sold 787 of them in the US.

Down by about fifty percent over April of last year when they sold 1557.

In March they sold 1,246 versus 1,817 of March 2015

http://nissannews.com/en-US/nissan/usa/releases/nissan-group-reports-april-2016-u-s-sales

 

[LeftieBiker]

Dammit, I don't want to have to go through Dealership Hell again so soon. I have a lease extension at $159 a month, so I may wait until Labor Day anyway.

 

[xpan]

i think OP was referring to the sale/lease buy out of 2013 Leaf, not 2016.

I called this morning, it is true that the 2013 buyout was reduced to 3k, and lease extension is only for 6 months without any free month. They said they sold out lot of leafs in April, so they scaled back on the promotion. I was suggested to call back every month to check the change

Sales of Leafs were down in April, they sold 787 of them in the US.

Down by about fifty percent over April of last year when they sold 1557.

In March they sold 1,246 versus 1,817 of March 2015

http://nissannews.com/en-US/nissan/usa/releases/nissan-group-reports-april-2016-u-s-sales

@jj240, that is right, the NMAC guy referred to the lease buyout sale, not new car sale. Sorry about the confusion

 

[fss8221985]

Any suggestions on buy-out for 2012 Nissan Leaf SL? I called Nissan Finance this morning and they said there is a $10,500 buyout offer on my 3-year lease, currently extended for additional 12 months.

2012 Nissan Leaf SL (Red)
Leased: October 2012

Gross Payoff: $16,839
Buyout: Gross - $10,500 credit = $6,339
Buyout Fee: +$300
CA Tax: +$537
Registration: +$154
Documentation: +$80
Out-the-Door Price: $7410

Bars: 12/12 (recently replaced with new Lizard battery less than a year ago)
Mileage: 48,000 miles
Tires: All new tires, recently replaced less than 6 months ago
Scratches: small/moderate
Repairs: minor accident 2013 but they ended up replacing quite a bit of the body
Overall Condition: Very Good

Also, what is this $1500 dealer "RPM" incentive I see people discussing?

 

[ngnphoto]

Also, what is this $1500 dealer "RPM" incentive I see people discussing?

As I understand it, it is another way Nissan motivates their dealers to close certain deals. It seems that some dealers will want to hold on to all of it while some may give you some of it when you buy out.

 

[djkjmuoh]

Thank you for all the great suggestions and experiences in this thread! Thanks to y'all I got a great deal on my Leaf lease and it sounds like I got the $7500 credit just before it ended last month!

I started following djkjmuoh's advice and checking multiple dealers. The first dealer wanted the $1500 plus $300 dealer transfer. The second dealer was willing to waive the $300 but wouldn't budge on the $1500. For the third dealer I took LeftieBiker's advice and tried to negotiate just part of the $1500 and was able to make a deal. Not only that but he was able to get me 0% financing from NMAC! Bonus!

Here's what I ended up with:

2013 Leaf SL
Buyout from Nissan: $17,636.48
Credit: $(7,500.00)
Partial Dealer Credit: $(636.48)
This got me to $9,500.
Then with DMV Transaction Fee: $117
And Title transfer fee: $77
I end up owing $9,694

If anyone is interested, the dealer is Carr Nissan in Beaverton, Oregon. The salesman is Cameron Maclean.

Nice work... Reading through here, after having not visited in a while, it does indeed seem that we got through just in time! Kudos on getting at least part of the $1,500 RPM incentive and that 0% financing too! WOW. Happy Leaf'n!

 

[LeftieBiker]

So, my 2013's warranty ends next Monday or Tuesday. I've successfully extended my lease for one last year, until June of 2017. I hadn't really seriously considered buying an extended warranty before this, because I knew they were expensive, and because I thought I'd be buying or leasing a new Leaf about now. (It turns out that there will be no big Memorial Day Sale on Leafs here, as there are only a small handful of Leafs, period, in my area. So Labor day, my fallback purchase time, now looks even worse.) Still, on the advice of someone here, IIRC, I got a quote from Jim Bone Nissan, in California. It turns out I can get a "48 month" "new car" warranty that in effect extends the factory warranty for one more year. It includes the HVAC and infotainment systems, and seems to cover anything else that isn't covered under the longer powertrain/emissions warranty. The cost is $525, and there is a $100 deductible. I have enough in the bank to self-insure, and probably save that $525, but I'm a wee bit neurotic, and the idea of spending the next year worrying about a repair costing a lot more than $600 coming up doesn't entice me. I will probably buy the extended warranty. Thoughts?

 

[erichz]

I'm doing the Jim Bone warranty on mine. I haven't pulled the trigger yet, but that's the plan. I'm planning on going with the 60 month new car warranty to extend another 2 years - I've definitely had way more than the value of the warranty replaced on my car already, and my car is in the shop again (12v battery this time) as I write this.

I'm not an extended warranty fan in any way, but I'm used to working on my own cars. I'm not comfortable doing that with the LEAF for most of the big failure points.

 

[LeftieBiker]

I figure that even if nothing at all goes wrong with the car, I'd be happy enough getting another trouble-free year from her for $525. Since the dealership supposedly tested the 12 volt battery and found nothing wrong, I might even watch the auto parts store sales, and get a new cheap-ish 12 volt battery installed for $50 before Winter. My total maintenance costs for this car, not counting snow tire-related expenses, have been roughly $110 for three years. ($70 of that was the front wiper replacement, even though it was advertised as costing $30!) My housemate's Prius will end up costing about $500 for the same period, even with two years of free scheduled service up front. That difference alone is most of what the warranty extension costs.

 

[LeftieBiker]

Jim Bone / Santa Rosa Nissan is having a Memorial Day Weekend sale on their extended service plans. $100 off. That means I can either get the plan I mentioned above for $425, or a 60 month (2 years after warranty ends, in case I buy the car after all) for $675. I just took a 50 mile trip today, and got back with 40% charge left after starting with 99%, so I do still think about buying my car, but with the Bolt promising about 250% of the range, it's a hard sell...

 

[LeftieBiker]

I just bought that 48 month (12 month actual) "new car" warranty. With the Memorial Day sale discount it came to $325 instead of $425, and by selecting the 0% monthly payment option I'll be able to cancel the warranty (if I read the terms correctly) when I turn the car in, and not owe any payments from that point, as long as I get a form from a Nissan dealer to officially cancel, or send the dealer a letter to that effect. There is also a pre-warranty inspection required, listed at $65-$100, but I'm hoping that the local dealer who just did an end of warranty inspection two weeks ago will fill in the form for me...

 

[erichz]

I also took advantage of the Nissan Santa Rosa sale. I ended up going with an extra 3 years, or the 72 month, 75,000 mile plan with $0 deductible. That should take me through my ownership of this car. I'll keep the board updated on my experience.

 

[jjgilham]

June 2nd - I spoke to NMC today regarding my 2013 SV. . For June, The "incentive" to purchase is $3000 and they are also offering a 6-month lease extension at original terms. Really kicking myself for not taking the $7500 incentive in April.

 

[LTLFTcomposite]

Our Volt lease ended and we gave up on the idea of the used LEAF; there were just too many unknowns. Instead we replaced it with a new Rogue. While we're EV-free for now, the strategy is to hand down the Sentra and hopefully get another EV at some point in the future when there are better options available.
I figure we did our part to help fill the ranks of the early adopters, and should be able to slip in inconspicuously under the late majority part of the curve.

 

[LeftieBiker]

I take it the Volt leases aren't attractive now, and you don't want to see what the Bolt is like? I'm going to drive one as soon as they come out, but will then wait for a good deal on an optioned one, since I now have another full year to drive my Leaf.

 

[LTLFTcomposite]

We loved the Volt concept, but it's just too cramped for what we were looking for. Had GM put that powertrain in a small CUV it would have been irresistible. The Bolt is interesting but realistically it's a year away, I have zero confidence there will be any decent high speed charging network, and frankly even if they do it really won't cut it for the kinds of trips we take on a fairly regular basis.
Still hold lots of optimism for the future of the tech, but recognizing it's slow to evolve for the time being.

 

[tifighter]

I have a 15 that is coming off lease in July. Received an email from NMAC today offering:

"To our valued customer,

We have some very exciting, exclusive offers for our loyal Nissan Leaf customers.

A. If you want to purchase your Leaf vehicle we are currently offering a discount of up to $0 on your qualified Leaf vehicle. Please contact any Nissan dealership to facilitate your purchase.

B. If you simply cannot part with your lease you have the options to extend your current lease for an additional 12 months. Please contact our Leaf loyalty team to take advantage of this exciting program available only to our Leaf customers.

If you need any assistance with either of these special Leaf programs or your end of lease experience, please contact our Leaf loyalty team. Offers subject to change or cancellation at any time.

Sincerely,

The Leaf loyalty team"


Who's tempted by option A?